656
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 06 Oct 2023
656 points (93.5% liked)
World News
38126 readers
2743 users here now
A community for discussing events around the World
Rules:
-
Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
-
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
-
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
-
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
-
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
-
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
-
Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
-
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
Lemmy World Partners
News !news@lemmy.world
Politics !politics@lemmy.world
World Politics !globalpolitics@lemmy.world
Recommendations
For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
founded 1 year ago
MODERATORS
What if you're in your late 30's and you have ~20k in debt and barely any savings to last a month. I'm staring down a hopeless void.
File. For. Bankruptcy. Best decision you could ever make. Hell, just ask GPT how to do it. It's just paper work and then blamo, debt be-gone. Do some research , there different kinds of bankruptcy. The rich do it all the time. It's as American as President Camacho.
There's a guy on YouTube who has a channel for people like you... Caleb Hammer.
When I was in my early 30s I had 40k debt. Now I am near 40 and cleared them all and have savings and property worth 100k.
And HRV + Ioniq 5 to boot.
Everything is possible.
I've got some beans.
Beans? I got Steak. Work harder and smarter so you dont eat beans.
I actually prefer beans over steak.
Some good sashimi though? I'll take that.
Yeah? How did you do that?
Sounds like he's a landlord.
So he's skimming of others income. A leech.
Even leechyness aside, it's just winning the housing market lottery. No one can afford a house right now, and if they could, it's not appreciating like crazy anymore.
The guy got extremely lucky with timing and also somehow found enough cash for a down payment.
Correct. It is not a universal solution.
"Can't make rent, afford a car, food, etc? Just get some rental properties!" -- out of touch wealthy people.
It's not hopeless. You're behind ideal, but you can be in a good spot by your mid 40s if you make that a goal. 30k makes you debt free and have a good emergency fund. If you haven't changed jobs in a few years, you can probably find another job with a raise that gets you 30k more in about 3 years.
If you wipe out that debt by 45 and start saving for retirement, 15k/year nets you about 500k-700k by 65. That's not retire on a beach money, but it's better than the average boomer.
Where are you getting his income figures from?
"Everyone works in STEM"
Even outside stem wages have gone up for many jobs and if you only have gotten no or sub 5% raises for a few years it's worth looking.
Does this plan require good returns on investments? Cuz 15K × 20 years doesn't equal 500 to 700k. Isn't that how a lot of boomers got financially wrecked? Putting all their money into 401Ks or housing only to have them lose a ton of value every time there's a once in a lifetime financial crisis? Hopefully this doesn't sound sarcastic, they're honest questions.
Yes it's assuming 7% which is a long term average. Boomers largely never saved for retirement, it wasn't wiped out. The stock market is resilient over time, with retirement planning it's important to not panic and pull money out, use index funds and there's very few 5 year periods where the market is actually down. When your close to retirement get more conservative, because a downturn can really hurt you when tour planning to withdraw that money. A financial planner can help, they should be able to explain their plan and fees upfront l. The plan may be a bit general until you actually sign something, but you shouldn't have to pay one for an initial meeting.